For fans who have gone to sleep dreaming of seeing Memphis stars Rudy Gay or Zach Randolph in their teams’ uniforms, Tuesday morning brought bad news. The Grizzlies have agreed to a trade that will free up enough room under the luxury tax threshold to allow Memphis to keep both Gay and Randolph—for now, at least.

The source of the Grizzlies’ problem has been that the team’s payroll had been $74 million, or about $4 million over the luxury-tax threshold. With new more punitive taxes coming in after the season, and considering that the Grizzlies play in a small market, there was no justification for paying the tax—even with new owner Robert Pera now running the team.

The deal does hammer a very thin Grizzlies bench, which was already without top reserve Quincy Pondexter, out indefinitely with a knee injury. Speights and Ellington had played in all 40 games. Speights averaged 6.6 points and 4.7 rebounds in 14.5 minutes, while Ellington averaged 5.5 points in 16.9 minutes. Ellington was shooting 42.3 percent from the 3-point line, and was second on the team in 3-point makes. Selby had only appeared in 10 games.

For Cleveland, Speights figures to bulk up a front line that took a hit when center Anderson Varejao was ruled out for the year with a blood clot in his lung. Speights has a player option for next year (worth $4.5 million). Ellington gives the team a more veteran player on the wing, where rookie Dion Waiters has struggled. After the season, the Cavaliers could extend him a qualifying offer or choose make him an unrestricted free agent.